GBP USD Technical Analysis 20 July 2020
GBP USD Technical Analysis: The GBP rose 0.12% against the USD on Friday and closed at 1.2567. Today in the Asian session, while GBP USD technical Analysis 20 July 2020 at 5:15 GMT, the GBP/USD is trading at 1.2526, which is 0.32% lower against the USD from yesterday’s close.
The pair is expected to find support at 1.2520 and a fall through could take it to the next support level of 1.2485 The pair is expected to find its first resistance at 1.2570 and a rise through could take it to the next resistance level of 1.2590. Today’s expected trading range is between 1.2460, support and 1.2625 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1.2520
Support 2: 1.2485
Support 3: 1.2460
Important resistance levels:
Resistance 1: 1.2570
Resistance 2: 1.2590
Resistance 3: 1.2625
GBP/USD buying opportunity for intraday trading on July 20, 2020
Buy near the support zones 1.2520 and 1.2485 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
GBP/USD selling opportunity for intraday trading on July 20, 2020
Sell near the resistance zones 1.2570 and 1.2590 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
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